Joy Holdread on sun 30 jan 00
Business terms vary from country to country.
To the best of my knowledge in the USA:
Markup is when a retail outlet raises the wholesale price. (Usually 50%.)
Wholesale is the price artists sell to retail outlets. (Usually 50% of their
retail price).
Consignment is the term for leaving works of art with a retail outlet,
gallery,
craft shop, gift shop and receiving payment when the work sells. In Arizona
USA within 30 days by law.
Commission is the artist paying someone when they help sell works or the term
is also used when a person pays an artist to special design & make a work of
art.
Maid O'Mud Pottery on mon 31 jan 00
Joy Holdread wrote:
> ----------------------------Original message----------------------------
> Business terms vary from country to country.
> To the best of my knowledge in the USA:
> Markup is when a retail outlet raises the wholesale price. (Usually 50%.)
It's usually 100% ie. if the potter retails a mug for $10, they wholesale to the
store for $5 (50% off retail). The retailer then doubles the price back to $10,
hence it's a 100% markup. If it was a 50% mark up, 50% of $5 is $2.50, and the
end selling price would be $7.50.
>
> Wholesale is the price artists sell to retail outlets. (Usually 50% of their
> retail price).
--
sam - alias the cat lady
SW Ontario CANADA
http://www.geocities.com/paris/3110 scuttell@odyssey.on.ca
"First, the clay told me what to do
Then, I told the clay what to do
Now; we co-operate"
sam, 1994
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